Friday, May 11, 2012

The monster that won't die

The always-excellent David Nicklaus has a column today about a proposal to raise the minimum wage in Missouri for a second time during this recession and non-recovery.  The title of his article, "Timing is bad for a minimum wage increase", hits on the sheer lunacy of raising the minimum wage when the labor market is so weak.  The body of the article goes on to explain how the timing is actually never good for this misguided policy because it harms the very people that it is intended to help.  My own view is that the minimum wage is a significant contributor to keeping the poor from joining the middle class.